Meats Futures Prices

Fri Jul 28, 11:50AM CDT
Lean hog futures are posting 70 cent to $1 losses at midday on Friday. The CME Lean Hog Index for 7/26 was 45 cents lower than the previous day at $89.39. The USDA pork carcass cutout value was $1.14 lower in the Friday morning report, with a weighted average of $98.80. The butt and picnic were the only cuts reported higher. The national base hog carcass price was $1.05 lower with a weighted average of $80.96 in the morning report. Week to date FI hog slaughter was estimated at 1,743,000 head through Thursday, 5,000 head more than the previous week and 39,000 over the same week in 2016. Export commitments for pork in 2017 are 8.3% larger than 2016 at this point. Aug 17 Hogs are at $81.500, down $0.750, Oct 17 Hogs are at $66.675, down $1.000 Dec 17 Hogs are at $61.100, down $0.700

Fri Jul 28, 11:50AM CDT
Live cattle futures are showing $1.525 to $1.90 losses in the front months on Friday. Feeder cattle futures are down $1.80 to $2.075, The CME feeder cattle index was down 27 cents from the previous day at $151.30 on July 26. Wholesale beef prices were lower in the morning report, with choice boxes down 94 cents at $205.49 and select 77 cents lower at $195.89. Estimated FI cattle slaughter through Thursday was 467,000 head, 5,000 head above last week and 19,000 head larger than the same week last year. So far today, a few cattle have exchanged hands at $117 in the South. Total export commitments are now 7.8% ahead of last year. Japan announced on Friday that they temporarily raised the import tariff on frozen beef from 38.5% to 50% on countries they do not currently have trade deals with. This was done in order to make domestic producers more competitive with the international market. Aug 17 Cattle are at $112.400, down $1.900, Oct 17 Cattle are at $111.850, down $1.725, Dec 17 Cattle are at $112.875, down $1.525, Aug 17 Feeder Cattle are at $145.750, down $2.075 Sep 17 Feeder Cattle are at $146.900, down $2.050 Oct 17 Feeder Cattle are at $146.450, down $1.800